SMSF Property Spruiker Stampede

[HiEquity]

Some familiar names being bandied about in the MSM around property spruikers in the link below. Turns out allowing leverage of an SMSF into property has caused a bit of a market to develop - who would have thought it? No doubt there have been a few left a bit wounded by the equity market since and thinking the grass looks greener on this side. Lets hope it doesn't get as bad as the mid noughties with the spruiking industry...

http://www.abc.net.au/news/2013-06-17/the-stampede-into-property-by-self-managed-super/4761308

Of course, this is all obvious to anyone who has spent a bit of time on these forums and knows who to look out for and how to do their own research. But still, it's always worth a reminder about how not to go about investing in property...

 

[Daveh]

Thanks for posting.

It's unfortunate they exist but they do....always do your homework peeps!

 

[JT7]

I guess where ever there is an opportunity to exploit the uninitiated and those lacking the knowledge there will be people trying to exploit.

We rolled over in a smsf last year and do hold a property in the structure.

I think it will ultimately have some impact upon the property market as people become disillusioned with the traditional investments in a managed fund but the spruikers and sharks will be out there I have no doubt.

Jack

 

[Player]

..............and here's another:

http://www.propertyobserver.com.au/...il&utm_term=0_a523fbfccb-78d527689e-245278065

As Jenman pointed out in the video linked above in the opening post, these people/organisations don't come across as dodgy or as crooks. They appear full of integrity and professionalism to lure their prey, I have never been one to shirk the responsibility of my own decisions and play victim, however I do have empathy for those fleeced and exploited.

Caveat Emptor seems to fall on deaf ears when the marketing appears to promote above board products and truly having the best interests of the investors at heart.

 

[Scott No Mates]

That's why those running their own SF should either have appropriate expertise or seek out those with that expertise to advise them and not putting all their eggs (super) in one basket.

 

[Bigtone]

it's perfect for them as you can't access the equity (so no bank valuations later on) out of the property and it is likley to be held long term so most suckers don't even know how much they wll be ripped off